Conditions
Loan type
Mortgage  loan granted for the acquisition of residential real estate within the framework of "Affordable housing for a serviceman" national target program
Loan purpose
Exclusively for the purpose of acquiring real estate/purchase rights from the primary market in the RA territory
Loan currency 
AMD
Loan amount 
1.000.000-25.650.000
Annual interest rate
11%
Annual actual interest rate
6.22-8.87% 
State-subsidized interest 
5%**
Loan term
From 120 up to 240 months
Redemption frequency
Monthly, Monthly, equally (annuitant), or Non-equally (differential).
Requirements to property
The basis for the loan/collateral ratio is the minimum of the acquisition and appraisal values of the residential real estate..
Loan to pledge value ratio
90% 
Grant way
Lump, cashless
Loan application study fee
Free
Loan arrangement is realized
ARMECONOMBANK” OJSC head office and branches with the exception of Nairi MC, Rossia-1 and Araratyan branches. 
Decision  and provision period
Up to 20 working days (in case of a collateral is provided within 5 business days following the receipt of collateral registration right).
Expenses related to the collateral arrangement
The borrower shall bear all collateral arrangement expenses (notarization, registration of the real estate in subdivisions of Real Estate Cadastre)
• Notary fee - AMD 15.000-25.000
• Joint reference (on restrictions against real estate) - AMD 10.000
• Certificate on the registration of right over real estate- AMD 27.000-75.000
Is not subject to reduction in case of repayment of the loan ahead of term.
Encashment fee
 In case of encashment of the loan amount, encashment fee is charged per the tariffs set by the Bank* 
Penalties
Against the amounts (loan, interest, and other fees) not paid within the term/s/ set forth by the Agreement a penalty at 0.13 percent of the overdue amount is defined for each overdue day (daily).
Provision of extract
Free of charge
 
*To get acquainted with the tariffs of the Bank, please visit the link https://www.aeb.am/en/business_cash/ 

**To the extent of the difference between the loan interest rate and the subsidized amount, the borrower/co-borrower can benefit from the income tax refund law.

ATTENTION. In case of acquiring a real estate right/purchase right from the primary market, there is state support for the down payment in the amount of AMD 2,500,000, regardless of the price of the apartment.

ATTENTION. Within the framework of the given loan type in case of a refusal of refinancing or termination of refinancing when providing refinanced mortgage loans, the interest rate of the loan is defined 14% annually, except for the loans from the state support program for energy-efficient renovation of apartments and individual residential houses in the territory of RA, in which case the interest rate does not change.

ATTENTION.A Co-borrower can be one or more members of the Borrower’s family.

Early loan repayment is allowed for which no penalties and fees are charged.

At the customer’s choice, the Bank reduces the size of monthly payments in proportion of early paid amount leaving the loan repayment date unchanged
reduces the loan repayment term leaving the monthly payments unchanged.

ATTENTION. In case of non-fulfillment or improper fulfillment of the obligations set forth by the Mortgage agreement, the borrower may lose his/her right of ownership over the property.

ATTENTION. The mortgage agreement shall be verified by notary.

ATTENTION. The number of total overdue days on the borrower’s and co-borrower’s all loans /acting and repaid/ shall not exceed 30 calendar days within the last 12 months.

ATTENTION. Interest is calculated on the loan balance.

ATTENTION. After reaching a positive decision on the loan provision, before the conclusion of the mortgage agreement, the Bank, based on the terms and conditions of the loan offered by the Bank and the documents submitted by the consumer, provides the consumer with an Individual leaflet, which defines essential terms of the mortgage loan, tariffs, the rights and obligations of the consumer, and the negative consequences in case of non-fulfillment of the obligations when due applicable for the given consumer in case of conclusion of the mortgage agreement.

ATTENTION. "Your financial directory" is an electronic system that makes it easier for you to compare the services offered to individuals and find the most effective option for you. https://www.fininfo.am/compare-mortgage-loan  

ATTENTION. Before signing the loan agreement (seven days prior) the Bank provides the proposal and project on the signing of the loan agreement to the borrower.

ATTENTION. The Proposal on the loan agreement conclusion is effective seven working days (thinking time) unless otherwise envisaged by the proposal.

ATTENTION. To get acquainted with the tariffs of the services rendered within the implementation of loan operations please visit the  link

To get acquainted with the terms, conditions and tariffs of the provision of statements, their copies, references and other information during the validity period of the agreement, please visit here.

ATTENTION.The amounts to be paid by the consumer, irrespective of the fact of making the payments for goods, services or works by credit or without a credit, are not included in the calculation of the actual interest rate.

ATTENTION. On the purpose of due diligence of the customer envisaged by RA law on “On combating money laundering and terrorism financing”, the Bank may request additional documents or other information from the consumer based on <<Know your customer>> principle, as well as ask the consumer additional questions during oral communication.

ATTENTION. In compliance with the agreement signed with USA, to find out whether you are a US tax payer, the bank may collect additional information about the agreements, contracts, cooperation, membership signed by financial institutions, which may have a direct impact on the consumers (e.g. Foreign Account Tax Compliance Act (FATCA)).

ATTENTION. When applying for a loan, the Bank provides you with an individual leaflet on essential terms of consumer loan, which defines individual terms of the loan to be provided to you.

ATTENTION. As an additional means of loan security, the Bank may also require the guarantees of other person/persons.

ATTENTION. In case of non-fulfillment or improper fulfillment of your obligations the lender sends your data to the credit bureau where your credit history is being formed up to 3 business days. You are entitled with the right to get your credit history from the credit bureau free of charge once a year( https://acra.am/?lang=hy )

ATTENTION. Bad credit history may prevent you from receiving other loans in the future

ATTENTION. Loan interests are calculated based on the nominal interest rate and the actual interest rate shows how much the loan will cost in case of fulfillment of loan obligations in defined terms and sizes. The actual annual interest rate calculation procedure can be found on the following link 

The payments to be paid by the consumer are not included in the calculation of the actual interest rate irrespective of the fact that payments against the works and services have been made with or without a credit.

ATTENTION. The nominal interest rate may be changed by the bank. The information on the changes of the nominal interest rate may be found on link

1.You are eligible to communicate with financial institution by the means of communication you prefer – through postal services or electronically. The receipt of information electronically is the most convenient. It is available round-the-clock (24/7), is free of the risk of loss of paper information and ensures the confidentiality.

2. The possible negative consequences, penalties/fines for the customer in case of non-fulfillment of obligations
• 0, 13%a of the unpaid amount for each overdue day
• 0, 13%a of the unpaid interest amount for each overdue day

3. If you have outstanding liabilities against the creditor, while fulfilling your obligation the loan repayment arrangements are made in the following sequence:
• Court costs (if any)
• Collateral sale costs (if any)
• Accrued penalty
• Accrued interest
• Insurance costs /if any/
• Principal amount of the loan

4. Property (house, car, etc.) pledged by you may be confiscated by law in case you fail to perform your loan obligations on time.

5. In case of non- fulfillment of loan liabilities, the loan liabilities are covered by the collateral, and should the collateral be not enough to repay the borrower’s liabilities it is possible to repay the liabilities on the account of another property of the borrower and/or guarantor(s)/co-borrower/s/.

6. Loan interests are calculated towards the loan balance.
For example if the customer is provided with a loan in the amount of AMD 1.200.000 with an annual interests rate of 24% ,with 12 months period (while calculating monthly accrued interests as a number of days 30 days period has been taken as a basis).
Months Loan balance Repayment from loan Repayment from interest
1 1.200.000 100.000 23.671
2 1.100.000 100.000 21.699
3 1.000.000 100.000 19.726
4 900.000 100.000 17.753
5 800.000 100.000 15.781
6 700.000 100.000 13.808
7 600.000 100.000 11.836
8 500.000 100.000 9.863
9 400.000 100.000 7.890
10 300.000 100.000 5.918
11 200.000 100.000 3.945
12 100.000 100.000 1.973

7. WE SHOULD REMIND THAT THE EXCHANGE RATE FLUCTUATIONS MAY HAVE AN IMPACT ON THE REPAYMENTS OF LOAN PROVIDED IN FOREIGN CURRENCY.

8. The Bank applies no limits to loan amount; it will be conditioned by and related to:
• Purpose of loan
• Customer's creditworthiness
• Collateral offered by the customer
• Loan risk assessment
• Requirements of prudential standards provided by the Central Bank of Armenia

9. “ARMECONOMBANK” OJSC can provide services to the customer under terms which may differ from those set forth in the Bank's overall policy taking into account any of the following conditions of the below-mentioned list:
• Customer account balance
• Customer account turnover
• Strategic importance of the customer for the Bank
• Number of employees in customer organization
• Total number of cards issued for customer organization
• Income gained from customer
• Volume of transfers
• Size of deposits with the Bank
• Significant borrower
• Social considerations (medical organizations, educational institutions, etc.)
• Being the head of such organization
• Other objective conditions

10. The borrower pays interest to the bank for using the loan amount, the interest of which is calculated on the loan balance for the calendar days of actual use of the loan based on a 365-day year. For loans under specific projects the interest calculation may be based on a 360-day year.
• Loans are repaid within the dates indicated in the loan agreement.
• The periodicity of interest payments is determined in accordance with the loan agreement or repayment schedule.
• If the repayment date for principal or interest rates falls on day off, the payment is made on the following working day without calculation of penalty for the days off.

11. Repayment of Loans
• Loans are repaid within the dates indicated in Loan Agreement
• Loans are repaid in the currency in which they were given • In case of loans in foreign currency, exchange rate fluctuations may affect loan payments
• In case of exchange rate fluctuations, the exchange rate risk related to loans will be borne by the borrower

12. The Bank may terminate the Loan Agreement and request repayment of the loan amount, if
• The borrower has failed to make any payment required under Loan Agreement
• The borrower has breached any confirmation made by the him/her and fails to correct such breach within 30 days following the occurrence thereof
• Any presentation, warranty, document, or information provided by the borrower is materially incomplete
• By reasonable opinion of the Bank, an essential negative change has occurred in financial state of the borrower, including court orders, outflow of assets, deterioration or termination of business, company re-organization.
• The borrower undergoes dissolution, or is subject to ongoing or pending bankruptcy proceedings
• The borrower interferes with monitoring
• In case of other objective reasons

13. The Bank may accept as collateral:
• Real estate: land, houses, buildings, apartments
• Fixed assets
• Circulating assets
• Motor vehicles
• Precious metals
• Treasury bills, foreign currency, stocks
• Property to be purchased and ownership right
• Cash

14. The appraisal value of movable and immovable real estate is based on the market value indicated in appraisal statement.

15. The loan or a part thereof, as well as the accrued interest is deemed overdue if not repaid within periods specified in the Agreement.
• In case of non-repayment of the amounts (the loan, interests other payments) within the term(s) set by the Agreement, Borrower shall pay a penalty in the amount of 0.13% (zero point thirteen percent) of the overdue amount for each day of default. The total amount of the unpaid interests calculated in accordance with this paragraph shall not exceed the current debt balance.
• In case of non-repayment of the loan or a part thereof within the term(s) set by the Agreement, the Borrower is obliged to pay interests to the Bank in the amount of double of the settlement rates set by the Central Bank of Armenia. The  total amount of the unpaid interests calculated in accordance with this paragraph shall not exceed the current debt balance.
• Starting from the 91st day of overdue days, 21,5% annual interest rate is applied to the balance of non-overdue loan (term loan). After the full repayment of outstanding amounts, penalties and interests accrued, the interest rate set by the Loan Agreement is recovered.

16. The Bank shall not accept the following items as collateral:
• Non-circulating assets
• Separate parts of indivisible property
• Leasing right
• Property owned by urban, rural, and local communities
• Property with ownership right

17.To satisfy the claim of CREDITOR-PLEDGEE, the pledged property may be confiscated in extrajudicial manner pursuant to paragraphs 2-4 of these Rules in case of non-fulfillment or improper fulfillment of the obligations by PLEDGER under Collateral Agreement and by BORROWER under Loan Agreement.
  2. The property confiscated in extrajudicial manner may be sold if under the Pledge Agreement PLEDGER has authorized CREDITOR-PLEDGEE to sell the pledged property upon emergence of the grounds for confiscation as stipulated in paragraph 1 of these Rules without seeking court intervention and so fully recover the claim covered by the collateral and has also agreed to transfer without seeking court intervention the ownership of the pledged property against the respective part of main liability to CREDITOR-PLEDGEE or any person designated by the latter in the manner provided by RA legislation.
3.Upon emergence of the grounds for confiscation as stipulated in paragraph 1 of these Rules, CREDITOR-PLEDGEE shall duly notify PLEDGER in writing of confiscation of the pledged property (confiscation notice). In two months following the date of delivery of confiscation notice to PLEDGER, CREDITOR-PLEDGEE shall have the right, pursuant to Article 195 of RA Civil Code, to sell the pledged property directly or through public auction pursuant to RA Law on Public Bidding.
4. PLEDGER undertakes to transfer the pledged property to CREDITOR-PLEDGEE within two months following the date of delivery of confiscation notice to PLEDGER.
 5. The duration of process of sale of pledged property may not become a ground for cessation of growth of BORROWER's liabilities to CREDITOR-PLEDGEE. Moreover, the proceeds from sale of collateral shall be utilized to fully cover CREDITOR-PLEDGEE's claims to BORROWER existing as of the date of sale of collateral and, should the claim not be covered on the account of the collateral, the outstanding amounts may be confiscated from other property of BORROWER.
    6. Confiscation of the property pledged to cover CREDITOR-PLEDGEE's claims by court order may be executed in the manner provided by RA legislation.

18. You can get acquainted with the tariffs on any service by visiting the following link: https://www.aeb.am/en/sakagner/:

19. You can get acquainted with the terms and conditions of remote banking services by visiting the following link:  https://www.aeb.am/en/sakagner/
Demands
Requirements to Borrower
The overall mutually added age of both of the spouses should not exceed 70
The age of one of the spouses should not exceed 35
Only parent whose age does not exceed 35
The net income of the borrower must not exceed AMD 800.000
Neither of the spouses shall own a residential real estate more than 18 square meters within RA territory
Positive decision grounds
Positive loan history (if any)
Reliability of the submitted documents
Source of stable and sufficient income
Availability of a pledge acceptable by the Bank
Compliance with the criteria of the state target program "Affordable Housing for Young Families"
Negative decision grounds
Negative assessment of customers financial state
Non-credibility of the presented documents
Inadequacy of the “Affordable Apartment for the Young Family” state purpose project criterion
Customer’s negative loan history
Other reasons that will hamper the loan repayments according to the Bank assessment.
General Information
Documents to be presented by individuals
Punct2 copies of passports /family members/
PunctCopy of the marriage certificate /if any/
PunctReference from workplace
PunctPersonal account statement from the tax authority for the previous 12 months
PunctCopy of social card
PunctReference from vendor on the apartment for sale and its value (Offer)
PunctProperty valuation 041 77-41-00
Conditions

You can buy real estate from the following companies.

N

NAME

ADRESS

1

ARKADA CONSTRUCTION  LLC

83 Tigran Petrosyan Str., Yerevan

2

Jermuk Group CJSC

18/4 Arshakunyants Ave.,  Yerevan

3

ADVANCED DEVELOPMENT LLC

51 block, Bagrevand district, Nor-Nork, Yerevan

4

HB GROUP LLC

51/11 Sevak Street, Kanaker-Zeytun, Yerevan

5

ECOLOGY CONSTRUCTION  LLC

1/25 Davit Bek Street, Yerevan

6

Kanach Tagh LLC

61/1 and 61/6 Tsarav Aghbyur Street, Avan, Yerevan

7

Artadratekhnologiakan komplektavorum CJSC

23/3 Garegin Nzhdeh street, Yerevan

8

HOV-MAN SHIN LLC

Yeghbairyutyan 1, lane 2, Shengavit, , Yerevan

9

AH CONSTRUCTION

7/9 Lvovyan Street, Nor Nork, Yerevan

10

REM GROUP LLC

M. Frunze Street 8/9, Shengavit, Yerevan,

11

NAREKATSI HOUSE LLC

72 Marshal Babajanyan Street, Avan, Yerevan

12

SHINAS LTD

27/7 Leningradyan Street, Malatia-Sebastia, Yerevan

13

Malkhasyants 12 OJSC

6/1 Malkhasyants Street, Yerevan

14

Grig Development LLC

29/17  Leningradyan Street, Malatia-Sebastia, Yerevan

15

MUSH TOWERS LLC

37/46 Moldovakan Street, Nor Nork, Yerevan

16

AMELI GROUP LLC

51, Arabkir 29th street, Yerevan

17

ARMEN LLC

18 A. Sargsyan Street, Ajapnyak, Yerevan

18

VAGHARSH EV VORDINER LLC

19/5 plot  Nork district, Nork Marash, Yerevan

19

EDNO GROUP LLC

P. Duryan district 1, street 10, Arinj community, Kotayk region

20

Vardanush Nushevani Poghosyan

Charents Street, 1st Lane. 49 residential houses, Nork Marash, Yerevan

21

Lorida Group LLC ՍՊԸ

44/13 Ajapnyak district, Yerevan

22

Arman Artak Eghbayrner LLC

46/2 Tumanyan district, Avan, Yerevan city

23

Omega Plyus LLC

108/2 Lvovyan street, Nor Nork administrative district, Yerevan

24

MGS Development LLC

2/6 Kurghinyan, str. Malatia Sebastia administrative district, Yerevan

25

AYGEDZOR LLC

11/12 Davit Anhaght Street, Kanaker-Zeytun Administrative District, Yerevan

26

LIASHIN LLC

No. 13 Shahumyan Square, Kapan Community, Kapan City, Syunik Region

27

JUST DEVELOPER LLC

39/37 Moldovakan Street, Nor-Nork Administrative District, Yerevan

28

Modern Tower LLC

19 Arabkir street, plot 21, Yerevan

29

A.R. Shin LLC

2/18 plot , G-1 district, Ajapnyak administrative district

30

ARMSTROY PROJECT LLC

10/15, Arghtyun Street, Arabkir, Yerevan

Updated: 31/10/2023 10:33